NETANYA, Israel, Dec. 24, 2017 /PRNewswire/ -- Cellcom
Israel Ltd. (NYSE: CEL) (TASE: CEL) (the "Company") announced that its Board of Directors has instructed the Company to prepare
for a potential offering of a new series of debentures in an aggregate amount of approximately NIS 300
million to the public in Israel only. The Company published today a draft indenture
relating to such offering, similar to the indenture relating to the Company's existing Series J and Series K debentures.
In addition, Standard & Poor's Maalot reaffirmed an ilA+/stable rating for such potential offering of debentures of up to
NIS 300 million, which the Company may issue.
The execution, timing, terms and amount of such contemplated offering have not yet been determined and are subject to further
approval of the Company's Board of Directors, publication of a supplemental offering report and the prior approval of the TASE
for the supplemental offering report. There is no assurance that such offering will be executed, nor as to its timing, terms or
amount.
For additional details regarding the Company's debentures and the Existing Indenture, see the Company's annual report on Form
20-F for the year ended December 31, 2016 under "Item 5B. Liquidity
and Capital Resources – Debt Service" and the Company's current report on Form 6-K dated August 4,
2017 under "Other developments during the second quarter of 2017 and subsequent to the end of the reporting period – Debt
Raising".
The contemplated offering described in this press release will be made, if made, only in Israel and only to residents of Israel. The said debentures will not be
registered under the U.S. Securities Act of 1933 and will not be offered or sold in the United
States. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any
securities.
A security rating is not a recommendation to buy, sell or hold securities, it may be subject to revision or withdrawal at
any time by the assigning rating organization, and each rating should be evaluated independently of any other rating.
About Cellcom Israel
Cellcom Israel Ltd., established in 1994, is the largest Israeli cellular provider; Cellcom Israel provides its approximately
2.805 million cellular subscribers (as at September 30, 2017) with a broad range of value added
services including cellular telephony, roaming services for tourists in Israel and for its
subscribers abroad and additional services in the areas of music, video, mobile office etc., based on Cellcom Israel's
technologically advanced infrastructure. The Company operates an LTE 4 generation network and an HSPA 3.5 Generation network
enabling advanced high speed broadband multimedia services, in addition to GSM/GPRS/EDGE networks. Cellcom Israel offers
Israel's broadest and largest customer service infrastructure including telephone customer
service centers, retail stores, and service and sale centers, distributed nationwide. Through its broad customer service network
Cellcom Israel offers technical support, account information, direct to the door parcel delivery services, internet and fax
services, dedicated centers for hearing impaired, etc. Cellcom Israel further provides OTT TV services (as of December 2014), internet infrastructure (as of February 2015) and connectivity
services and international calling services, as well as landline telephone communications services in Israel, in addition to data communications services. Cellcom Israel's shares are traded both on the New York
Stock Exchange (CEL) and the Tel Aviv Stock Exchange (CEL). For additional information please visit the Company's website
http://investors.cellcom.co.il.
Company Contact
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Investor Relations Contact
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Shlomi Fruhling
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Ehud Helft
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Chief Financial Officer
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GK Investor & Public Relations In partnership with LHA
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investors@cellcom.co.il
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cellcom@GKIR.com
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Tel: +972 52 998 9755
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Tel: +1 617 418 3096
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SOURCE Cellcom Israel Ltd.